Why Global-e Online Stock Raced Almost 5% Higher Today

For the first time in its relatively young life, Global-e Online (NASDAQ: GLBE) is embracing a popular activity most investors love. On the announcement of its inaugural stock buyback program, many market players flocked to the e-commerce facilitator, sending its share price up by just under 5% on Thursday. This compared extremely well to the frothy S&P 500 index's 0.8% increase. Just before market open that day, Global-e Online announced its board of directors had authorized a share repurchase initiative of up to $200 million. As is typical with such programs, this one allows the company to buy its shares through a variety of methods, including transactions on the open market. It is authorized to do so from time to time, as it sees fit. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool